Low PE High ROCE: This small-cap iron & steel company secures order worth Rs 537 crore from ONGC!
The stock has gained over 14 per cent in the last one month.
On March 30, 2023, Maharashtra Seamless Limited informed in the exchange filing that the company has received orders from ONGC Limited with cumulative basic value of Rs. 537 crore for supply of seamless casing pipes. These pipes have to be supplied in various states including Maharashtra, Gujarat, Rajasthan, West Bengal, Andhra Pradesh, Assam and Tripura as required by ONGC Ltd. The order is to be executed over the course of 46 weeks.
Maharashtra Seamless Limited is engaged in the business of manufacturing of steel pipes and tubes. The company was conceived after noticing huge demand and supply gap in the seamless pipe market, which was met mostly through imports. The company provides whole range of high-class, customizable and innovative seamless pipes and tubes using state-of-art technology. It is also engaged in power generation.
Yesterday, the stock opened at Rs 358.05 and made a high and low of Rs 363.95 and 354.40, respectively. The stock closed at Rs 357.60, up by 1.20 per cent. The stock has gained over 14 per cent in the last one month.
The scrip is a part of group A with a market capitalization of Rs 4,791.54 crore. The stock has a 52-week high of Rs 455.00 and a 52-week low of 262.50. The company has a ROCE of 12.5 per cent and an ROE of 10.5 per cent.